The import value of needleloom felt and stitchbonded fiber fabric to India in 2023 stood at 8.9 million USD. Based on the forecasted data, there is a consistent year-on-year growth expected for the period from 2024 to 2028. The import value is expected to increase from 9.2112 million USD in 2024 to 10.863 million USD by 2028.
- Year-on-year variation from 2023 to 2024 is approximately 3.5%.
- Year-on-year variation from 2024 to 2025 is approximately 4.6%.
- Year-on-year variation from 2025 to 2026 is approximately 4.3%.
- Year-on-year variation from 2026 to 2027 is approximately 4.1%.
- Year-on-year variation from 2027 to 2028 is approximately 3.8%.
Over the five-year period from 2023 to 2028, the compounded annual growth rate (CAGR) is estimated to be around 4.06%, indicating a steady upward trend in the imports of these materials.
Future trends to watch for include the potential impact of technological advancements in textile manufacturing, shifts in global trade policies, and evolving demand patterns in India's textile industry. Additionally, sustainability practices and eco-friendly materials might influence future import dynamics.
